Wingstop (NASDAQ:WING – Get Free Report) had its price target decreased by investment analysts at Royal Bank Of Canada from $250.00 to $225.00 in a report released on Tuesday,MarketScreener reports. The brokerage currently has an “outperform” rating on the restaurant operator’s stock. Royal Bank Of Canada’s price objective points to a potential upside of 48.13% from the stock’s current price.
A number of other equities research analysts also recently commented on the stock. Piper Sandler raised shares of Wingstop from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $283.00 to $190.00 in a research report on Thursday, April 2nd. Benchmark dropped their price target on Wingstop from $320.00 to $285.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. BTIG Research reiterated a “buy” rating and set a $305.00 price objective on shares of Wingstop in a research report on Thursday, May 28th. UBS Group cut their price target on Wingstop from $210.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, June 9th. Finally, Stephens restated an “overweight” rating and set a $225.00 target price on shares of Wingstop in a research report on Thursday, June 4th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $267.78.
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Wingstop Stock Performance
Wingstop (NASDAQ:WING – Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The restaurant operator reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.16. Wingstop had a net margin of 15.77% and a negative return on equity of 16.22%. The firm had revenue of $183.72 million for the quarter, compared to the consensus estimate of $187.82 million. During the same quarter last year, the firm posted $0.99 EPS. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, equities analysts predict that Wingstop will post 4.59 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Wingstop
Institutional investors and hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD increased its stake in Wingstop by 2.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,111,089 shares of the restaurant operator’s stock worth $503,475,000 after purchasing an additional 58,386 shares during the period. Lone Pine Capital LLC bought a new stake in Wingstop during the 3rd quarter valued at about $375,317,000. Massachusetts Financial Services Co. MA boosted its position in Wingstop by 48.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,405,894 shares of the restaurant operator’s stock valued at $335,292,000 after buying an additional 456,861 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in shares of Wingstop by 6.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,173,613 shares of the restaurant operator’s stock valued at $279,895,000 after acquiring an additional 70,224 shares in the last quarter. Finally, Steadfast Capital Management LP boosted its holdings in shares of Wingstop by 296.2% in the third quarter. Steadfast Capital Management LP now owns 950,521 shares of the restaurant operator’s stock valued at $239,227,000 after purchasing an additional 710,621 shares during the period.
Wingstop Company Profile
Wingstop Inc (NASDAQ: WING) is a fast-casual restaurant chain specializing in chicken wings and related menu items. Founded in 1994 in Garland, Texas, the company has built its brand around bold, chef-inspired wing flavors and a streamlined service model that caters to dine-in, takeout, delivery and catering orders.
The company’s core offerings include both bone-in and boneless chicken wings tossed in a variety of proprietary rubs and sauces, such as Original Hot, Lemon Pepper, and Mango Habanero.
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